A Creative Solution to Narrowboat Finance Part 2
Before we left Walter, he had agreed to reduce the asking price by €10,000 and defer the payment of the last €5,000 until we sold Julisa. We now owned a bigger and better boat. A boat, we thought, which we could use for winter living. A classic Dutch craft which would serve all our cruising and living requirements. Cynthia and I were delighted.
For a while.
Buying Dik Trom was a mistake. A big mistake, and it was all mine. I purchased the boat with my heart rather than with my mind. By then, I had six years of narrowboat ownership under my belt. And I had the accumulated knowledge shared with me by narrowboat fitters, marine electricians, painters and engineers at the Warwickshire marina where I lived and worked. I should have known better.
Dik Trom, by Dutch standards, was effectively insulated. Compared to English narrowboats, she was barely protected from cold weather at all.
And she had acres of heat sapping glass plus an intermittently working heating system marginally more effective than a burning candle. As the autumn days shortened and the thermometer plummeted, so did our spirits and the temperature in our floating home.
By December we were confined to our tiny galley and dining area. The blown air heater had stopped working by then, so we used a one-kilowatt electric heater to try to keep us warm. A bedsheet draped over the companionway steps prevented our precious hear from climbing four steps to the cockpit and its expanse of single glazed windows. We were almost warm enough in our small space, but damp and miserable.
The boat’s poor insulation allowed condensation to form on every surface. Climbing out of a warm bed to squeeze into damp clothing took tremendous willpower. At least I could look forward to a day in a heated workplace. I wasn’t quite so keen on the eight hours laying on my back painting the hulls of speedboats costing as much as English country houses, but I had more to look forward to than Cynthia.
My working days were warm but tedious. Cynthia also had tedium to look forward to while I was away. Still, she didn’t have moral boosting heat or a change of environment. She sat for hours on the boat alone, with nothing to do but contemplate her failing health.
The novelty of touring Europe without a care in the world was far behind us. We could afford to live in northern Europe in the summer and flee to the south of France to escape the winter cold. But only if I worked all summer doing an unhealthy and tedious job to supplement Cynthia’s pension. While I merely disliked the change in our circumstances, the damp, bone penetrating cold and the isolation had a dangerous effect on Cynthia’s health.
She couldn’t find the daily company she needed to help take her mind off her struggle with the simplest physical tasks. Solitude accelerated both her mental and physical decline. Cynthia’s weight loss alarmed me, as did her extreme reaction to the mildest of ailments.
We needed to make an immediate change in our lifestyle for the sake of Cynthia’s health and our happiness, and we needed to do it quickly.
I couldn’t see a way out of our situation. One of the reasons we left England was Cynthia’s difficulty in staying long term with me in my country. As an American citizen, she was entitled to stay for a maximum of six months. Our marriage didn’t make any difference to her entitlement. But as we discovered to our dismay, getting permission for an extended stay in mainland Europe was just as tricky. By then, we had been wading through Dutch red tape for eighteen months. Our experience with a succession of reluctant government officials was a soul-destroying affair.
The novelty of extended foreign travel had well and truly worn off. Especially for me. I pined for England’s muddy ditches and the gaily painted narrowboats which cruised them. I would have returned to that lifestyle in a heartbeat, but I suspected at the time that Cynthia didn’t feel the same way. I didn’t want to fuel my desire to return to the UK by openly discussing the possibility. So I did what Englishmen do. I stiffened my upper lip, squared my shoulders and immersed myself in a life of unfulfilling tedium.
I underestimated Cynthia. She was a force of nature. If she sunk her teeth into an idea, she wouldn’t let go until it became a reality. And, I was delighted to discover, she was quite keen on exploring the concept of a return to England.
“I’ve been thinking,” she told me when I climbed into the cabin after another tedious day laying under millionaire’s playthings. “You are at your happiest messing about on the English waterways. Your face lights up when you talk about narrowboats. You miss your old life in England, don’t you?” That was a risky question for me to answer. I had enthusiastically agreed to Cynthia’s European travel plans and embraced the logistical challenges we faced both on the road and on the water. I enjoyed driving through exotic landscapes and meeting new and fascinating people. However, I missed England and the country’s magnificent waterways network.
But much as the thought of a return to England’s canals excited me, I couldn’t imagine how we would achieve it.
We had a collection of empty bank accounts between us. Our only equity was in a fifteen-year-old German motorhome and a 1984 Dutch motor cruiser. We could quickly move off the boat and live full time in the motorhome. That would allow us to instruct a broker to sell our Dutch summer home. However, selling a boat in the Netherlands can be a long-winded affair. Waiting a year or two is for an offer is common and we didn’t want to wait that long. Now that Cynthia had broached the subject, I knew that any delay would drive me mad. And push Cynthia further down the slippery slope of ill health and depression.
Even if we found a boat buyer willing to pay our asking price we still wouldn’t have enough money. We would need to sell the Hymer too, but we couldn’t do that until we had a narrowboat to live on and we couldn’t buy a boat until we sold the motorhome. The situation was hopelessly frustrating, especially after Cynthia’s next statement.
“I’ve found a Steve Hudson boat I know you’ll love.” Cynthia handed me her iPad and showed me the listing on Apolloduck. “The boat is called Orient. It’s the same length as your old boat, James, and it’s filled with beautiful fitted pine furniture.” Cynthia knew that one of my pet hates was a boat devoid of storage space. I’ve lost count of the number of adverts I’ve seen claiming a “spacious and attractively priced narrowboat ideal for full-time living.” In reality, the boat’s low price could only be achieved by the builder avoiding time-consuming and expensive internal joinery. A narrowboat offers very little living space at the best of times. Without plenty of storage space, a boat soon becomes cluttered. For someone like me, who insists on perfectly aligned cup handles and storage jar lids, too little storage space is distressing.
“Look at that,” she said, pointing at a photo. “Orient has a cabin at the back with its own stove. You could use it as your office.” Cynthia knew which buttons to press. Neither our Dutch boat nor our motorhome allowed either of us much privacy. Separate spaces at either end of the craft would give both us some much needed alone time. I began to fall in love with Orient.
Cynthia scrolled through the images. Orient looked gorgeous. I liked everything about her, apart from the monstrous green engine dominating its own room in the middle of the boat. I am neither a competent nor enthusiastic mechanic at the best of times. As far as I was concerned, engines were for hiding behind or under soundproof boards. I felt that engines on display wasted valuable living space and added unnecessary noise and pollution to the cabin. I suspected that keeping this old Lister in good condition would require a level of skill beyond me. Taking on a vintage engine would require some serious thought.
Then there was the price. Sixty-two thousand pounds. It might as well have been a million. We couldn’t raise the asking price even if we managed to sell both our motorhome and our Linssen yacht. We would need to take out yet another loan to buy Orient. And that was without the cost of a survey or any remedial work.
A boat buyer who doesn’t need to invest a few thousand pounds in essential replacements or repairs is a lucky man. The battery bank replacement often initiates the first of many visits to a rapidly disappearing bank balance. I had to change the batteries on my previous three boats as soon as I moved onto them. That would prove to be the case with Orient too. I l discovered to my dismay that there were thirteen on board. However, that particular treat was several months in the future.
I needed to concentrate on buying the boat first. I wanted to budget five thousand pounds for essential repairs and upgrades. We needed to raise nearly seventy thousand pounds to make sure we covered all eventualities. Seventy thousand pounds more than our combined savings.
The situation looked hopeless. I told Cynthia that there was no point getting excited about a boat we simply couldn’t afford. There was no point in either of us investing time or money in such an unrealistic dream.
“If you had the money, would you buy it?” Cynthia asked. I looked at the photographs again. The engine in its own room didn’t appeal to me, and I wasn’t happy about the limited space in the boat’s saloon area but, apart from that, I loved it. Yes, I would buy it in a heartbeat if we had the cash. Cynthia sensed an opportunity.
“You’ve always wanted a Steve Hudson boat, so why don’t we focus on ways of making this work rather than dismissing the idea out of hand? Why don’t you look at this as an opportunity rather than a problem?” Why indeed. Why did I always dig deeply into any possibility in my life to find reasons not to pursue it? For Cynthia’s sake, I tried to be more positive.
Although we were living in Holland, I realised that viewing Orient wouldn’t be too difficult. I had taken our Hymer back to our Nottingham motorhome dealer two weeks earlier to have some essential repairs done under warranty. I planned to collect the motorhome the following week. As Orient’s mooring at Tattenhall marina was only an hour’s drive away, viewing the boat wouldn’t be a problem. I picked up my iPhone and dialled the listing contact number. I arranged to meet broker Steve Harrel to look at the boat and possibly take her for a test drive.
And then I spent the rest of the week fretting about money.
The boat exceeded my wildest expectations. It was love at first sight. You know when you’ve found the right boat. It speaks to you. This beautiful craft whispered to me seductively as soon as I stepped on board. Even the engine room had a certain charm. If I could learn to maintain the aged Lister, I thought I could accept the loss of living space. Yes, this boat would do.
I took Orient for a chug around the marina. The two-cylinder Lister JP2 started first time from cold. The engine’s slow and steady thump sounded like the beat of a healthy and happy heart. It was a sound which would entrance many canalside visitors in the years to come.
I knew that the boat was perfect for us. I emailed dozens of photos to Cynthia. She loved what she saw and trusted my judgement. I was sure that we would settle into our new home quickly. Orient was my dream boat and hopefully my last if we could overcome one little problem.
We contacted both of our banks. Cynthia was quickly approved for a £20,000 loan, but HSBC’s automated system laughed at me. With little income over the previous two years, I didn’t stand a chance. I knew that I would need to try less orthodox routes.
I borrowed £12,500 from two private lenders. Both of them bent over backwards to help me. We now had fifty per cent of the asking price. It wasn’t enough, but the money gave me the confidence to go to the broker with an offer.
I told Steve Harral that we wanted Orient. What’s more, we were prepared to pay the asking price, providing that everything on the boat was in working order and providing that we could have time to pay.
We didn’t expect our Dutch boat to sell quickly. Dutch boaters are a fussy bunch. They want everything in perfect working order, a craft painted, varnished and maintained to the highest standards. Dik Trom was an old girl, still in need of more tender loving care than I had time to give her. We bought her for €53,000 and then invested another €8,000 in essential repairs and upgrades. Hoping for a quick sale to a bargain hunter, we instructed our broker to advertise her at €49,000. Then we focussed on selling our six-wheeled home.
We purchased the Hymer for £30,000 in March 2016 and then drove the beast 30,000 through Europe. We knew that we would be lucky to get £25,000 for the motorhome if we wanted to sell quickly. We decided to advertise at that price initially to see if there was any interest.
And then we had a lucky break.
During any boat buying process, one of the first questions I ask is why the owner wants to sell. What motivates him? Does he need the money or is finding the right home for his pride and joy more important? A little knowledge can help enormously.
We discovered that the owner and his wife wanted to spend less time boating and more quality time with their new grandchild. Between babysitting visits, they wanted to travel more and visit parts of England they hadn’t seen before. And they wanted to do it in a motorhome.
Our Hymer was left-hand drive. Because of that, and because England was the least motorhome friendly country of the eleven we toured, we knew that this wouldn’t be a suitable vehicle for them to use to explore England. But it would be perfect if they took it on a ferry or train over to France.
France was our favourite country for motorhome touring by a country mile. Most French villages and towns have free or low-cost motorhome parking, often with an open water supply and sometimes with free electricity too. The people are friendly, the scenery stunning and there’s more history than you can shake a stick at. We talked passionately to the broker about our experiences in France. We hoped that he would pass on some of our enthusiasm to Orient’s owners.
The owners agreed to take our Hymer in part-exchange, and they accepted the £25,000 valuation without seeing the vehicle. The owner’s wife, Sue, explained. “We trust your judgement. You seem like honest folk, so I’m sure that the Hymer is in perfect condition. It wasn’t, and I made sure that she knew it. I reminded her that we had spent the previous two years living in it while we toured. However, we agreed to have the motorhome professionally cleaned before we handed it over. That was the plan anyway. Circumstances dictated otherwise.
Even with the Hymer part-exchange and three loans, we still didn’t have enough money. The only option was to further test the owners’ generous nature. We explained our predicament in detail and told them that we were a good bet. We had equity in an old but much-respected Linssen motor cruiser which we were confident would sell soon. We were honest people, we told him, boat lovers who took pride in their floating homes. We promised to lavish Orient with all the tender loving care that she deserved.
The Gods smiled upon us. Owners Stuart and Sue agreed to the sale on our terms; part cash, part motorhome exchange and the balance, £6,500, deferred until Orient sold. I couldn’t believe our good fortune. Cynthia just smiled contentedly and reminded me of the power of positive thinking.
We still had a great deal of work to do. Selling Dik Trom was the biggest challenge. Neither broker Steve or Sue and Stuart knew the difficulty we faced selling an older boat in Holland. Our Linssen was a needle buried under a bewildering haystack of craft for sale. Waiting a year or two for a vessel to sell was typical. We once saw a vintage sailing boat which had been for sale for a decade. All we could do was hope that our discounted selling price would attract serious interest.
In the meantime, we needed to move back to England. The first step was to make sure that Orient was all that she claimed to be. With years of experience in and around narrowboats, I was confident that a surveyor would find very little to worry us. I’ve been wrong many times in my life. This was one such occasion.
My mate, Russ, agreed to look at Orient for me. Russ was a Calcutt Boats fitter and a Boat Safety Scheme examiner. I trusted his judgement completely, and I was looking forward to him confirming that Orient was a gem among narrowboats. He wasn’t as complimentary as I hoped.
The gas locker configuration was downright dangerous and the multi-fuel stove unusable. Russ identified dozens of smaller faults too. All of them were either safety concerns or had the potential for costly remedial work in the years to come. He estimated that resolving all of the issues would cost £2,500.
We were lucky again. The owners agreed to take care of the problems before we moved on board. Even though Orient had two years remaining on its four year BSS certificate, I planned to have another done before we concluded the sale. Stuart and Sue agreed with that too, but circumstances conspired against us. Cynthia’s continued failing health was more of a concern. I would have saved another thousand pounds if I kept to my original plan. Still, my wife’s wellbeing was a higher priority, so the new BSS examination wasn’t done before we moved on board.
Christmas 2018 was an exhausting affair. We had just forty-eight hours to move our possessions. And then remove all traces from the motorhome of two years with fur shedding dogs.
I failed miserably with the cleaning, despite a marathon scrubbing and polishing session on Christmas Day. Sue and Stuart arrived on Boxing Day to find me on the verge of a nervous breakdown. All we could do was promise to have the vehicle professionally valeted inside and out and move gratefully into our new home.
Yet another of Cynthia’s dreams had become a reality. It proved to be the last of her successes in a long and adventurous life.
This year has been a roller coaster for me. I am back on the English canals where I feel I belong. Sadly, I am here without my wife. I’m still coming to terms with her loss in April. Cynthia’s can-do attitude persuaded me to negotiate the purchase of a first-class narrowboat with no money in the bank. Sadly, she isn’t here to enjoy the result of her drive and determination. It’s one of my life’s saddest ironies.
This year has been financially tough. I further discounted our Dutch boat after Cynthia died. Cynthia’s brother Jeff, her estate executor, pressed for an early sale to repay her bank loan. I paid the final balance to Sue and Stuart after the boat sold in July. Cynthia’s estate had the rest. That just left me to settle the debts to my two private lenders. By the year-end, both of those will be gone too, and I’ll be able to reduce my seven-day working week.
I plan to celebrate with a ten-day cruise to Market Harborough. I’ll find a remote and tranquil spot to spend Christmas Day on the Grand Union Leicester Line’s peaceful summit pound and reflect on the joyful highs and tragic lows of an eventful year. I’ll raise a glass to Cynthia’s memory and to my future on the English waterways. Thank you, Cynthia, for the vision, optimism and determination which encouraged me to negotiate the purchase of my beautiful home with an empty bank account.
Discovery Day Update
Steve and Sue joined me yesterday for my first salesmanship training day of the month. The morning weather was awful. A lively breeze forced us to crab out way past Napton reservoir and blinded us with smoke from my roof-mounted exhaust stack. It wasn’t the most promising start to a day which Steve hoped would convert Sue to an ardent inland waterways enthusiast.
Sue suffers from acute motion sickness. She worried that a cruise on the gentle swell of England’s ordinarily placid canals would cause her more pain than pleasure. And the thought of tackling the rushing waters of a Grand Union canal lock terrified her.
Heavy rain throughout the morning failed to dampen their enthusiasm. Sue’s lock wheeling job didn’t begin until the end of the day. She enjoyed much of the cruise sheltering from the rain and basking in the heat radiating from my boatman’s cabin range.
Talk changed as the day progressed from whether they should buy a boat to what equipment they should buy when they did. As we tackled our sixth and final lock, Sue confided that locks aren’t nearly as intimidating as she expected. And she admitted that the exercise the liveaboard lifestyle entails would do them both a power of good.
Sue and Steve chatted excitedly about visiting local narrowboat brokers as they left. Both were confident that neither motion sickness nor lock fear would play a part in their floating lives. It was a happy conclusion to a successful day.
If you are considering living afloat on England’s inland waterways, or if you are thinking about purchasing a narrowboat for recreational cruising, I urge you to join me for a day. You’ll learn how to handle a narrowboat safely, and you’ll gain valuable insight into life on the English waterways network.